Luxury jewellery brand Faberge, well known for its jewelled Russian eggs, has been bought by a US tech investor for 50 million US dollars (£37 million).
London-listed gemstone specialist Gemfields revealed on Monday that it sold the Faberge business to SMG Capital, the firm run by investor Sergei Mosunov.His investment vehicle will pay an initial 45 million dollars when the deal completes later this month, before paying the further five million dollars through royalty payment instalments.
